NADA Show Recap: Hot Trends and Key Takeaways from Elead
Every year dealers, industry experts and automotive professionals attend NADA to catch a preview of the hottest new product offerings, learn new business processes and keep up with the latest in industry trends. NADA 2018 was an incredible experience for ELEAD1ONE and we would like to thank our existing and new clients, as well as industry friends who visited our booth and helped us achieve record-breaking success.
If you couldn’t make it to the show, it’s not too late to join the conversation. We’ve gathered some of the most important highlights, technology updates and processes improvements from NADA to help you gain business advantage in 2018.
Customer Experience Takes Center Stage
With more and more of today’s consumers demanding an easy, Amazon-level shopping and customer service retail experience, it’s little wonder that Customer Experience was the hottest topic of NADA 2018. The most successful dealers are examining every aspect of the Customer Experience, from the first website visit all the way to the way they are servicing vehicles. So how do you truly put customers first?
Establish a comfortable, open and inviting culture that helps you to stand out from the competition. The key to an authentic, genuine experience lies within your staff and environment. Industry experts shared tips on how to build a culture that values customer experience.
High-pressure selling is out, and consultative selling is in. Most car buyers conduct substantial research before visiting a dealership, so it’s critical that your staff has the right information at their fingertips to answer customer questions quickly as a knowledgeable, trusted advisor. Your customers want options, not obligations. Instead of pushing a specific vehicle or service repair, present several options and let your customers choose.
We all know technology can never replace the human element of the business. The takeaway here is that to provide the genuine, authentic customer experiences your customers expect. You must choose technology partners who understand and value every aspect of experience – for your interactions with customers throughout their journey with your business.
Digital Retailing Spotlight
Digital Retailing was all the buzz at NADA 2018, which speaks to the larger trend of meeting today’s automotive shoppers on their terms – providing technology that provides them the convenience to shop when, where and how they want. While some dealers are reluctant to embrace digital retailing for fear of losing control of the sales process, it’s here – ready or not. And, we don’t see that happening. Most customers still want to visit the dealership for test drives and to sign paperwork. It comes down to time, value and convenience. Many manufacturers, large auto groups and third parties have introduced a variety of digital solutions for online car buying. So, what should you look for in a digital retailing solution?
Avoid solutions designed to cut your dealership out of the process by allowing customers to build their own deals on a third-party website. Without your inventory, these solutions can hardly offer consumers a seamless sales process. They are essentially selling you deals as leads.
As a dealer, consider giving your customers the best of both worlds. A hybrid, or integrated, approach that gives customers the technology to complete some or all of the car-buying process on your Website. Most important, look for a solution that allows customers to seamlessly pick up where they left off inside the dealership Look for solutions that help consumers overcome obstacles such as trade-in valuations, credit and financing.
The good news is, solutions are available that keep your dealership central to the car-buying process. It doesn’t have to be complicated; just think of digital retailing as another way to engage Website visitors, enhance your customers’ shopping experience and gain a competitive edge.
Innovations in Service Bring Increased Efficiency and Build Lasting Relationships
With only 10 percent of U.S. dealerships utilizing a service software solution, today’s dealers are still unsure how technology will pay off in the long-term. Dealers are hesitant to change because they are still making money. But there is one fundamental truth to encouraging big gains in market share and profits: staying the same equates to falling backward. Doing things the same old way will result in a decrease in future business. Why? Customers choose the best experience, and dealers must provide an excellent service customer experience to keep customers coming back — or its competitors will. The goal for the industry’s most profitable service departments? To streamline the communication between service advisors, service technicians, the parts desk, and most of all – with customers.
Forward-thinking service departments such as Scott Clark Toyota in North Carolina are improving customer experience, increasing efficiency, and streamlining communication with ELEAD1ONE’s Service CRM, Service1One. By adding fixed ops accountability and retention programs, the results are increased profits and higher customer satisfaction scores.
Given the rapid evolution of the service customer’s needs and desires, it’s critical to find a partner with an eye on the future and consider future integration needs. Video and texting capabilities will be the baseline for comparison between solutions in the Fixed Operations space. And, today’s innovators in the service space have incorporated tools to help Service Managers make more informed decisions on pricing to achieve their profit goals.
NADA 2018 was truly a show for the books in terms of gaining all the latest training on refining processes and for technology advancements. The ELEAD1ONE team was proud to be the most-awarded automotive CRM bringing home 10 awards. Customer experience drives everything we do at ELEAD1ONE, so we are immensely honored that our clients take time out of their busy schedules to recommend our company.
As always, we are grateful for the wonderful opportunity to connect with our customers, industry partners and friends. Stay tuned and be sure to subscribe for the latest in helpful tips, tricks and tech updates as we continue to reimagine Genuine Customer Experience with you in 2018.